Executive Summary

Key insights and market outlook

Wall Street's major indexes rose on Friday, driven by a rebound in technology stocks following earlier week's sell-off ¹

³. However, Nike's shares plummeted 10.2% after the sportswear giant reported weak sales in China and declining gross margins for the second consecutive quarter ¹². The Dow Jones Industrial Average increased by 0.54% to 48,210.37, while the S&P 500 and Nasdaq Composite rose by 0.55% and 0.69% respectively ¹.

Full Analysis

02

Deep Dive Analysis

Wall Street Rebounds as Tech Stocks Lead Gains

Mixed Session Highlights

The major Wall Street indexes showed resilience on Friday, with technology stocks leading the recovery after earlier week's sell-off ¹

³. The positive momentum was partially offset by Nike's significant share price decline following the company's quarterly results announcement ¹².

Market Performance Details

Dow Jones Industrial Average rose 258.52 points (0.54%) to 48,210.37
S&P 500 gained 36.97 points (0.55%) to reach 6,811.73
Nasdaq Composite advanced 158.82 points (0.69%) to 23,165.18 ¹
Source 1
https://investasi.kontan.co.id/news/wall-street-menguat-saham-teknologi-pimpin-reli-saat-nike-tertekan-penjualan-china

Nike's Quarterly Performance

Nike's stock experienced a dramatic 10.2% drop after the company reported:

Weak sales performance in China
Second consecutive quarter of declining gross margins
Earnings per share of 53 cents, beating Wall Street estimates
Revenue of $12.43 billion, surpassing market expectations ²
Source 2
https://finance.detik.com/bursa-dan-valas/d-8267200/saham-nike-terjun-bebas-saat-kinerja-kinclong-ada-apa

Technology Sector Recovery

The technology sector showed significant recovery, driven by:

Strong projections from Micron Technology
Renewed optimism around AI-related stocks
Rebound from previous week's valuation concerns ³
Source 3
https://internasional.kontan.co.id/news/wall-street-dibuka-menguat-saham-teknologi-bangkit-nike-anjlok